I put aside fixed amount of $ every week. What is my average $ per week?

Bluecat34

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Dec 26, 2018
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Dear Everyone,

I put aside each week a fixed sum of money. This fixed sum of money is then used to pay bills due annually at different times of the year. I would like to know what the average is of the sum of money I put aside each week. Can you help me, please?

Looking forward to hearing from you soon

Happy New Year

Blue
 
Dear Everyone,

I put aside each week a fixed sum of money. This fixed sum of money is then used to pay bills due annually at different times of the year. I would like to know what the average is of the sum of money I put aside each week. Can you help me, please?

Looking forward to hearing from you soon

Happy New Year

Blue
What are thoughts/work regarding this assignment?
 
I put aside each week a fixed sum of money.
This fixed sum of money is then used to pay
bills due annually at different times of the year.
I would like to know what the average is of the
sum of money I put aside each week.
So is your problem the same if worded this way:
"I put aside each week a fixed sum of money.
I would like to know what the average is of the
sum of money I put aside each week."

Do you "put it aside" by deposits in a bank account?
 
Dear Everyone,

I put aside each week a fixed sum of money. This fixed sum of money is then used to pay bills due annually at different times of the year. I would like to know what the average is of the sum of money I put aside each week. Can you help me, please?

Looking forward to hearing from you soon

Happy New Year

Blue
If you put aside the same amount each week, then that is your average. If you put aside different amounts each week, then I do not know the average as you did not tell us how much you put away for each of the weeks.

Maybe your real question is how much should I put aside each week to pay yearly bills? Just add up all these bills and divide this sum by 52 and that will be your weekly average.
 
Thank you

Thank you both for getting back to me and the opportunity of applying clarity to my question. I would like to calculate the average balance in any given week of the account, is this achievable?

Looking forward to hearing from you soon, with my very best wishes

Blue

What are thoughts/work regarding this assignment?
l
 
Thank you both for getting back to me and the opportunity of applying clarity to my question. I would like to calculate the average balance in any given week of the account, is this achievable?
Without loads more information (how much did you start with? what bills do you have, when, and in what amounts? are all bills' amounts fixed in advance? when are the bill paid? etc), I see no way to determine the average balance. Sorry.
 
Thank you both for getting back to me and the opportunity of applying clarity to my question. I would like to calculate the average balance in any given week of the account, is this achievable?

Looking forward to hearing from you soon, with my very best wishes

Blue


l
You have to know that to answer your question we have to know the amounts of your bills and when you pay them.
For example if your 1st bill is $10,000 due on 1/1 and your 2nd bill (and last bill) is $100 and due on 12/31 (today!!) then your average balance will be different if the due dates were reversed. Do you see that??
 
More information

Dear Everyone

Thank you all for your input! From your input I thought it wise to share more information. The information I am giving you is as follows: I have a number bills I need to pay each year. Each year for me is 12 months or 365 days.

I feel it prudent to put aside monies each weeks to so that I have enough to pay the bills as and when they are due over the course of 12 months. I put this amount of money into a savings account. I have calculated the amount of money by adding together all the bills I have to pay over the next 12 months and once I have added all the bills together I divide that figure by 52. I divide that figure by 52 as their are 52 weeks in a year.

Previously, and what I mean by previously is over the last year I have spent over my budget, for example stationary . I need an indicator of the overspend and thought knowing what my average balance is would be a true indicator whether or not I am allocating enough monies each week into my weekly bills account.

In closing I do hope you all have enough information to help and support me in obtaining my answer to my question which is how do I calculate the average balance in my weekly bills account.

Looking forward to hearing from you soon

Yours sincerely

Blue

Is this a classroom problem?
Do you know what "average" means?
 
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